HomeMy WebLinkAboutSupplemental Attachments - 10/16/2018 MAINTENANCE BOND
80,nd No. IAC586712
KNOW ALL MEN BY THESE PRESRNITS!
T`hat, Municipal Pipe Tool Co., LLC of Hudson, Iowa
as Principal,and the Merchants Bonding Company(Mutual) as Surety,
are held and firmly bound unto City of Waterloo, Iowa in the
penal sum of One Million Five Hundred Forty-five Thousand Six Hundred ($ $1,545,675.43 )
Dollars,lawful money of the United StAtes of America,for the pAyment of which,well and truly to be made.
the Principal and Surety bind themselves,their and each of their heir's,executors,administrators,successor's
and assigns,jointly and severally,firmly by these presents.
Whereas.the said Principal entered into a certain contract.with
City of Waterloo, Iowa
To Furnish all the material and labor necessary for the construction o
FY 2017 CIP Pipelining Phase IIIA,Waterloo, Iowa - City Contract No.919
in Waterloo, Iowa In conformity with certain specifications;and
Whereas,a further c:undidon of said contract is that the said Principal should furnish a bond in
indemnity,guaranteeing to remedy any defects in workmanship or materials that may develop in
said work within a period of two(2) years from the date of acceptance of the work
under said contract;and
Whereas,the said Merchants Bonding Company(Mutual) fora valuable consideration,
has agrLed to.join with;aid Principal in such bond or guarantee,indemnifying said
City of Waterloo, Iowa
Now, therefore,the condition of this obligation is such,that if the said Principal shall,At his own cost
and expense,remedv anv and all defects that may develop in said work within the period
of two(2) years from the date of acceptance of the work under said contract,by
reason of bad workmanship or poor material used in the construction of said work,and shall keep all work
in continuous good repair during said period,and shall in all other respects,comply with all the terms and
conditions of Said contract with respect to maintenance and repair of said work,then this obligation to be
null and void;otherwise to be and remain in full force and virtue in law.
In Witness whereof, we have hereunto set our hands and seals this 10th
day of January 2018
Municipal Pipe Tool Co., LLC
� Principal
BY:
Merchants Bonding Co y(Mutual)
Suret
Dione R.Young < r. -in- ac
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M ERCHANT�
BONDING COMPANY,
POWER OF ATTORNEY
Know All Persons By These Presents,that MERCHANTS BONDING COMPANY(MUTUAL)and MERCHANTS NATIONAL BONDING, INC.,
both being corporations of the State of Iowa(herein collectively called the"Companies")do hereby make,constitute and appoint,individually,
Anne Crowner;Brian M Deimerly;Cameron M Burt;Cindy Bennett;Craig E Hansen;Dana Wiebers;Dione R Young;Jay D Freiermuth;Jody
Decker;Kami Brower; Kathleen Brewer;Kevin J Knutson;Michelle R Gruis;Shirley S Bartenhagen;Stacy Venn;Tim McCulloh
their true and lawful Attorney(s)-in-Fact, to sign its name as surety(ies) and to execute, seal and acknowledge any and all bonds, undertakings,
contracts and other written instruments in the nature thereof, on behalf of the Companies in their business of guaranteeing the fidelity
of persons, guaranteeing the performance of contracts and executing or guaranteeing bonds and undertakings required or permitted in any
actions or proceedings allowed by law.
This Power-of-Attorney is granted and is signed and sealed by facsimile under and by authority of the following By-Laws adopted by the Board
of Directors of Merchants Bonding Company (Mutual) on April 23, 2011 and amended August 14, 2015 and adopted by the Board of Directors
of Merchants National Bonding, Inc.,on October 16,2015.
"The President, Secretary, Treasurer, or any Assistant Treasurer or any Assistant Secretary or any Vice President shall have power and authority
to appoint Attorneys-in-Fact, and to authorize them to execute on behalf of the Company, and attach the seal of the Company thereto, bonds and
undertakings,recognizances,contracts of indemnity and other writings obligatory in the nature thereof."
"The signature of any authorized officer and the seal of the Company may be affixed by facsimile or electronic transmission to any Power of Attorney
or Certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or other suretyship obligations of the
Company,and such signature and seal when so used shall have the same force and effect as though manually fixed."
In connection with obligations in favor of the Florida Department of Transportation only,it is agreed that the power and aut hority hereby given to the
Attorney-in-Fact includes any and all consents for the release of retained percentages and/or final estimates on engineering and construction
contracts required by the State of Florida Department of Transportation. It is fully understood that consenting to the State of Florida Department
of Transportation making payment of the final estimate to the Contractor and/or its assignee, shall not relieve this surety company of any of
its obligations under its bond.
In connection with obligations in favor of the Kentucky Department of Highways only,it is agreed that the power and authority hereby given
to the Attorney-in-Fact cannot be modified or revoked unless prior written personal notice of such intent has been given to the Commissioner-
Department of Highways of the Commonwealth of Kentucky at least thirty(30)days prior to the modification or revocation.
In Witness Whereof,the Companies have caused this instrument to be signed and sealed this 7th day of November 2017
t\ONA G Co
y:•ORP OR 01. ��p..,00R . ,� • MERCHANTS BONDING COMPANY(MUTUAL)
:y: 9�.y�: MERCHANTS NATIONAL BONDING,INC.
2003 ;�� :�' 1933 : By
�•• President
STATE OF IOWA •���'"'IWO.'• •••••••'•
COUNTY OF DALLAS ss.
On this this 7th day of November 2017 before me appeared Larry Taylor, to me personally known, who being by me duly sworn
did say that he is President of MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC.; and that the
seals affixed to the foregoing instrument are the Corporate Seals of the Companies;and that the said instrument was signed and sealed in behalf
of the Companies by authority of their respective Boards of Directors.
�PRtA P ALICIA K.GRAM
z° ,j Q r Commission Number 767430
My Commission Expires +
fovv� • April 1,2020
Notary Public
(Expiration of notary's commission
does not invalidate this instrument)
I,William Warner,Jr.,Secretary of MERCHANTS BONDING COMPANY(MUTUAL)and MERCHANTS NATIONAL BONDING,INC.,do hereby
certify that the above and foregoing is a true and correct copy of the POWER-OF-ATTORNEY executed by said Companies,which is still in full
force and effect and has not been amended or revoked.
In Witness Whereof, I have hereunto set my hand and affixed the seal of the Companies on this 10th day of January 2018.
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j'• 2003 1933 �'�: Secretary
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